How much do you need to earn to live comfortably in NYC? (New York: homes, safe neighborhood)
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it depends on your health insurance situation ... paying on your own through an aca can run almost 10k in after tax dollars with a 4k deductible .. 60k may not go far at all .
Have you considered a Christian health sharing ministry? You don't have to be religious actually.
Last edited by fatsquirrel; 03-19-2019 at 09:40 AM..
$100,000 or more south of 96th street in Manhattan
$65,000 or more north of 96th street in Manhattan
$55,000 or more in The Bronx hoods
$68,000 for nicer areas in The Bronx
$70,000 for Western Queens
$60,000 for Eastern Queens
$78,000 or more for gentrified areas of Brooklyn
$60,000 for regular Brooklyn
$65,000 for Staten Island
i always love how people tell others how much is enough ... you see the same thing on the retirement forums ... we all earn all different amounts and live different lifestyles in the same areas but yet you have those who think there is some universal amount that leads one to live a " comfortable " life .
we all have our minimum levels of what is acceptable too ... we have people living on just social security right up to hundreds of thousands a year in income in the very same areas ..
i would never attempt to tell anyone how much is enough , especially when the word " comfortably " is used ... i would not have ever considered retiring here in bayside if all we had was 70k pretax and had rent to pay
Last edited by mathjak107; 03-19-2019 at 10:38 AM..
it depends on your health insurance situation ... paying on your own through an aca can run almost 10k in after tax dollars with a 4k deductible .. 60k may not go far at all .
I know that well.
Before ACA, I had Oxford and when the bill hit near a grand a month, having steadily gone up 20% a year, I cancelled my insurance at age 62 and PRAYED I would not need a doctor for the next 3 years. I safely made it to Medicare at 65 but not without GREAT trepidation.
A dear friend lost her last job at 60 and did the same thing, of course, she had the option of ACA (I think) and perhaps Medicaid but did not avail herself.
I know that well.
Before ACA, I had Oxford and when the bill hit near a grand a month, having steadily gone up 20% a year, I cancelled my insurance at age 62 and PRAYED I would not need a doctor for the next 3 years. I safely made it to Medicare at 65 but not without GREAT trepidation.
A dear friend lost her last job at 60 and did the same thing, of course, she had the option of ACA (I think) and perhaps Medicaid but did not avail herself.
When ACA started my health insurance, Empire Hospital Only, was canceled. ACA wants to charge me 400 dollars because I have a job, and the insurance at my job is almost as expensive, so I just went with the health sharing ministries. I don't have a need for the things that are prohibited such as AIDS testing or drug abuse counseling.
I think my social group may be different. 25% gross would be extreme unless it's for seniors - a lot of folks live in NYCHA with grandma.
Some of my boys bought houses or box condos when they moved out, one of my buddies said you needed 20K to move out in Suffolk County. One of my friends lives with his parents in the Bronx and owns houses in Allentown, PA which he farms out to renters. Btw this spans a lot of nationalities. The Allentown guy is African, not Asian.
I think my social group may be different. 25% gross would be extreme unless it's for seniors - a lot of folks live in NYCHA with grandma.
Some of my boys bought houses or box condos when they moved out, one of my buddies said you needed 20K to move out in Suffolk County. One of my friends lives with his parents in the Bronx and owns houses in Allentown, PA which he farms out to renters. Btw this spans a lot of nationalities. The Allentown guy is African, not Asian.
Does he rent the homes in PA for passive income?
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